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NOTE 8. Leases

Operating Leases:

The GSA negotiates long-term office space leases and levies rent charges, paid by the USPTO, approximate to commercial rental rates. These operating lease agreements for the USPTO's office buildings expire at various dates between FY 2005 and FY 2023. During the years ended September 30, 2004 and 2003, the USPTO paid $74,521 thousand and $65,358 thousand, respectively, to the GSA for rent.

Under existing commitments, the future minimum lease payments as of September 30, 2004 are as follows:

USPTO Future Minimum Lease Payments as of September 30, 2004
(Dollars in Thousands)
Fiscal Year Minimum Payment
2005 $   69,324
2006     61,943
2007     59,088
2008     55,806
2009     55,253
Thereafter    773,545

 

Total Future Minimum Lease Payments $1,074,959

 

The commitments shown above relate primarily to the new operating lease for the USPTO headquarters in Alexandria, Virginia, beginning in fiscal year 2004 and extending to fiscal year 2023. The operating lease commitments for USPTO offices in Arlington, Virginia, will expire in fiscal year 2008.


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